You must be logged in to reply to this topic.
-
I own the HBS manual, and I’m sure this information is in there, but can you do an HBS sale for down payment when the property, for example, is worth $50K and you sell it for $50K with owner financing? And in that case, I take it the contract for the sale of the house would be between the owner and the buyer (not me) so there would be no Dodd-Frank problem for me? And if the seller insists (although not the best option for the buyer) could it be a Contract for Deed with a 5-year balloon?
[quote]
Posted By DON WEDE on 07 Dec 2014 12:23 PM
You sure can. Buy offering financing for a buyer and going after the highest down payment, you will have people coming out of the woodwork.
Don WedeP.S. This assumes that the seller qualifies under Dodd Frank
[/quote]Thanks, Don! By ‘assuming that the seller qualifies under Dodd-Frank’, do you mean that they have not done more than 1 seller financing transaction within the year?
[quote]
Posted By DON WEDE on 08 Dec 2014 12:28 PM
Yes that is individual owned, and have done no other sales with carry back financing in the year. I suggest you purchase Jackie’s E Book “Rules For Selling Mobile Homes With Seller Financing So You Comply with Dodd-Frank” I think it was $9.99, worth every penny.Don Wede
[/quote]Thanks, Don. I will add that book to my arsenal! Quick question. Is the one year period a fiscal year or a calendar year or a rolling year?
You must be logged in to reply to this topic.